Cambodia Economic Update, April 2014 : Coping with Domestic Pressures and Gaining from a Strengthened Global Economy
Cambodia's economy has withstood domestic pressures and managed to sustain its high growth driven by its usual engines of growth. The external sector improved as a result of slower imports due to dampened domestic demand. The post-election adv...
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| Format: | Economic Updates and Modeling |
| Language: | English en_US |
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Phnom Penh
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/04/19352107/coping-domestic-pressures-gaining-strengthened-global-economy-cambodia-economic-update http://hdl.handle.net/10986/17784 |
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okr-10986-17784 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ADVERSE EFFECTS ANNUAL BUDGETS ARREARS BANK LIQUIDITY BANKING SYSTEM BILL BROAD MONEY BUDGET ALLOCATIONS BUDGET CLASSIFICATION BUDGET DATA BUDGET DOES CAPITAL EXPENDITURE CAPITAL FLOWS CAPITAL SPENDING CAPITAL STOCK CENTRAL BANK CENTRAL BANKS CIVIL SERVANTS CIVIL SERVICE CIVIL SERVICE REFORM CIVIL SOCIETY ORGANIZATIONS COMPETITIVENESS CONSOLIDATION CONSUMER PRICE INDEX CONTINGENT LIABILITY CONTROL SYSTEMS CREDIT GROWTH CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS DEBT DEBT BURDEN DEBT MANAGEMENT DEBT SERVICE DEBT SUSTAINABILITY DEFICITS DEPOSIT DEPOSIT MONEY BANK DEPOSIT MONEY BANKS DEPOSITS DEPRECIATION DEVELOPING COUNTRIES DOLLAR EXCHANGE RATE DOMESTIC CREDIT DOMESTIC DEMAND DOMESTIC REVENUE ECONOMIC DEVELOPMENTS ECONOMIC ENVIRONMENT ECONOMIC GROWTH ECONOMIC RECOVERY ECONOMIC SLOWDOWN EQUIPMENT EXCHANGE RATE EXCHANGE RATE TARGETING EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPORTER EXTERNAL DEBT EXTERNAL FUNDING EXTERNAL POSITION FIDUCIARY ASSESSMENT FINANCIAL ACCOUNT FINANCIAL CONDITIONS FINANCIAL CRISIS FINANCIAL INTERMEDIATION FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL POSITION FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTORS FINANCIAL SYSTEM FISCAL AFFORDABILITY FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL POLICY FISCAL REPORTING FISCAL SHOCKS FIXED ASSET FOOD PRICES FOREIGN ASSETS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN TRADE GLOBAL ECONOMY GLOBAL TRADE GOLD GOVERNMENT DEPOSITS GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SAVINGS GROWTH RATE GROWTH RATES HIGH-INCOME COUNTRIES HOLDINGS HUMAN RESOURCE IMPORT IMPORT GROWTH IMPORTS INFLATION INFLATION RATES INFLATIONARY PRESSURE INTERNAL CONTROL INTERNAL CONTROL SYSTEMS INTERNATIONAL RESERVES INVESTMENT PROJECTS LABOR MARKET LENDER LENDER OF LAST RESORT LIABILITY MANAGEMENT LOAN LOCAL CURRENCIES LOCAL CURRENCY LONG-TERM INTEREST LONG-TERM INTEREST RATES LOW-INCOME COUNTRIES LOW-INCOME COUNTRY MACROECONOMIC MANAGEMENT MACROECONOMIC POLICY MACROECONOMIC STABILITY MAJOR CURRENCIES MARKET INSTABILITY MICROFINANCE MICROFINANCE INSTITUTIONS MINISTRY OF ECONOMY MINISTRY OF FINANCE MONETARY POLICY MONETARY SECTOR MONEY GROWTH MORTGAGE MORTGAGE-BACKED SECURITIES MULTINATIONAL COMPANIES NATIONAL AUDIT NATIONAL BANK NOMINAL EXCHANGE RATE OIL PRICES OTHER CURRENCIES PEG PERFORMANCE MANAGEMENT PETROLEUM PRICES POLITICAL STABILITY POLITICAL UNCERTAINTY POST-CRISIS PERIOD POVERTY REDUCTION PRIVATE SECTOR PROVINCIAL EXPENDITURES PROVINCIAL LEVEL PRUDENTIAL REGULATIONS PUBLIC EXPENDITURE PUBLIC EXPENDITURE REVIEW PUBLIC FINANCIAL MANAGEMENT PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC SERVICES PUBLIC SPENDING PUBLIC WORKS REAL EFFECTIVE EXCHANGE RATE REAL ESTATE INVESTMENT REAL ESTATE INVESTMENTS REAL EXCHANGE RATE REAL GROWTH REFORM PROGRAM REGIONAL INFLATION REGULATORY FRAMEWORK REMUNERATION RESERVES RESOURCE MANAGEMENT RETURN REVENUE GROWTH REVENUE TARGET SECTORAL ALLOCATION SECTORAL ALLOCATIONS SECTORAL BREAKDOWN SERVICE FACILITIES SHORT-TERM DEBT SHORT-TERM INTEREST RATE STRUCTURAL REFORMS SURPLUSES SUSTAINABILITY ANALYSIS TAX TAX ADMINISTRATION TAX BASE TAX COLLECTION TAX REVENUE TAX REVENUES TOTAL CREDIT TOTAL EXPORT TOTAL IMPORT TOTAL IMPORTS TOTAL INVESTMENTS TRADE BALANCE TRADE DEFICIT TRADE DEFICITS TRADE FACILITATION TRADE SURPLUS TRADING TRADING PARTNERS TRANSPARENCY TREASURY TREASURY SECURITIES WAGE EXPENDITURE WAGE EXPENDITURES WAGE POLICY |
| spellingShingle |
ADVERSE EFFECTS ANNUAL BUDGETS ARREARS BANK LIQUIDITY BANKING SYSTEM BILL BROAD MONEY BUDGET ALLOCATIONS BUDGET CLASSIFICATION BUDGET DATA BUDGET DOES CAPITAL EXPENDITURE CAPITAL FLOWS CAPITAL SPENDING CAPITAL STOCK CENTRAL BANK CENTRAL BANKS CIVIL SERVANTS CIVIL SERVICE CIVIL SERVICE REFORM CIVIL SOCIETY ORGANIZATIONS COMPETITIVENESS CONSOLIDATION CONSUMER PRICE INDEX CONTINGENT LIABILITY CONTROL SYSTEMS CREDIT GROWTH CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS DEBT DEBT BURDEN DEBT MANAGEMENT DEBT SERVICE DEBT SUSTAINABILITY DEFICITS DEPOSIT DEPOSIT MONEY BANK DEPOSIT MONEY BANKS DEPOSITS DEPRECIATION DEVELOPING COUNTRIES DOLLAR EXCHANGE RATE DOMESTIC CREDIT DOMESTIC DEMAND DOMESTIC REVENUE ECONOMIC DEVELOPMENTS ECONOMIC ENVIRONMENT ECONOMIC GROWTH ECONOMIC RECOVERY ECONOMIC SLOWDOWN EQUIPMENT EXCHANGE RATE EXCHANGE RATE TARGETING EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPORTER EXTERNAL DEBT EXTERNAL FUNDING EXTERNAL POSITION FIDUCIARY ASSESSMENT FINANCIAL ACCOUNT FINANCIAL CONDITIONS FINANCIAL CRISIS FINANCIAL INTERMEDIATION FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL POSITION FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTORS FINANCIAL SYSTEM FISCAL AFFORDABILITY FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL POLICY FISCAL REPORTING FISCAL SHOCKS FIXED ASSET FOOD PRICES FOREIGN ASSETS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN TRADE GLOBAL ECONOMY GLOBAL TRADE GOLD GOVERNMENT DEPOSITS GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SAVINGS GROWTH RATE GROWTH RATES HIGH-INCOME COUNTRIES HOLDINGS HUMAN RESOURCE IMPORT IMPORT GROWTH IMPORTS INFLATION INFLATION RATES INFLATIONARY PRESSURE INTERNAL CONTROL INTERNAL CONTROL SYSTEMS INTERNATIONAL RESERVES INVESTMENT PROJECTS LABOR MARKET LENDER LENDER OF LAST RESORT LIABILITY MANAGEMENT LOAN LOCAL CURRENCIES LOCAL CURRENCY LONG-TERM INTEREST LONG-TERM INTEREST RATES LOW-INCOME COUNTRIES LOW-INCOME COUNTRY MACROECONOMIC MANAGEMENT MACROECONOMIC POLICY MACROECONOMIC STABILITY MAJOR CURRENCIES MARKET INSTABILITY MICROFINANCE MICROFINANCE INSTITUTIONS MINISTRY OF ECONOMY MINISTRY OF FINANCE MONETARY POLICY MONETARY SECTOR MONEY GROWTH MORTGAGE MORTGAGE-BACKED SECURITIES MULTINATIONAL COMPANIES NATIONAL AUDIT NATIONAL BANK NOMINAL EXCHANGE RATE OIL PRICES OTHER CURRENCIES PEG PERFORMANCE MANAGEMENT PETROLEUM PRICES POLITICAL STABILITY POLITICAL UNCERTAINTY POST-CRISIS PERIOD POVERTY REDUCTION PRIVATE SECTOR PROVINCIAL EXPENDITURES PROVINCIAL LEVEL PRUDENTIAL REGULATIONS PUBLIC EXPENDITURE PUBLIC EXPENDITURE REVIEW PUBLIC FINANCIAL MANAGEMENT PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC SERVICES PUBLIC SPENDING PUBLIC WORKS REAL EFFECTIVE EXCHANGE RATE REAL ESTATE INVESTMENT REAL ESTATE INVESTMENTS REAL EXCHANGE RATE REAL GROWTH REFORM PROGRAM REGIONAL INFLATION REGULATORY FRAMEWORK REMUNERATION RESERVES RESOURCE MANAGEMENT RETURN REVENUE GROWTH REVENUE TARGET SECTORAL ALLOCATION SECTORAL ALLOCATIONS SECTORAL BREAKDOWN SERVICE FACILITIES SHORT-TERM DEBT SHORT-TERM INTEREST RATE STRUCTURAL REFORMS SURPLUSES SUSTAINABILITY ANALYSIS TAX TAX ADMINISTRATION TAX BASE TAX COLLECTION TAX REVENUE TAX REVENUES TOTAL CREDIT TOTAL EXPORT TOTAL IMPORT TOTAL IMPORTS TOTAL INVESTMENTS TRADE BALANCE TRADE DEFICIT TRADE DEFICITS TRADE FACILITATION TRADE SURPLUS TRADING TRADING PARTNERS TRANSPARENCY TREASURY TREASURY SECURITIES WAGE EXPENDITURE WAGE EXPENDITURES WAGE POLICY World Bank Cambodia Economic Update, April 2014 : Coping with Domestic Pressures and Gaining from a Strengthened Global Economy |
| geographic_facet |
East Asia and Pacific Cambodia |
| description |
Cambodia's economy has withstood
domestic pressures and managed to sustain its high growth
driven by its usual engines of growth. The external sector
improved as a result of slower imports due to dampened
domestic demand. The post-election adverse effects slowed
down the demand for imports, while export growth advanced.
Inflation rose to 4.7 percent year-on-year at the end of
2013, up from 2.5 percent at the end of 2012. Inflation is
projected to remain in mid-single-digits over the short
term. Financial deepening continues but the gap between
credit and deposit growth rates has widened, reducing bank
liquidity. Government revenue growth has moderated,
resulting in an increase in the fiscal deficit. The latest
joint World Bank and International Monetary Fund (IMF)
debt-sustainability analysis (DSA) conducted in 2013 shows
that Cambodia's debt-distress rating remains low, with
all debt-burden indicators projected to be below respective
thresholds. The prospects for sustaining high growth appear
favorable, and real growth for 2014 is projected to reach
7.2 percent, given expectations of renewed confidence and
political stability, underpinned by the strengthening of the
economic recovery in developed economies. Appropriately
managing domestic pressures in order to gain from the
improved global economic environment will help maintain
macroeconomic stability. Enhancing regional integration will
also enable Cambodia to benefit more from the growth
dynamics throughout the Association of Southeast Asian
Nations (ASEAN) region. While Cambodia does have some fiscal
space to increase wages, a cautious and careful approach to
pay raise may work best. |
| format |
Economic & Sector Work :: Economic Updates and Modeling |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Cambodia Economic Update, April 2014 : Coping with Domestic Pressures and Gaining from a Strengthened Global Economy |
| title_short |
Cambodia Economic Update, April 2014 : Coping with Domestic Pressures and Gaining from a Strengthened Global Economy |
| title_full |
Cambodia Economic Update, April 2014 : Coping with Domestic Pressures and Gaining from a Strengthened Global Economy |
| title_fullStr |
Cambodia Economic Update, April 2014 : Coping with Domestic Pressures and Gaining from a Strengthened Global Economy |
| title_full_unstemmed |
Cambodia Economic Update, April 2014 : Coping with Domestic Pressures and Gaining from a Strengthened Global Economy |
| title_sort |
cambodia economic update, april 2014 : coping with domestic pressures and gaining from a strengthened global economy |
| publisher |
Phnom Penh |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/04/19352107/coping-domestic-pressures-gaining-strengthened-global-economy-cambodia-economic-update http://hdl.handle.net/10986/17784 |
| _version_ |
1764438501953110016 |
| spelling |
okr-10986-177842021-04-23T14:03:40Z Cambodia Economic Update, April 2014 : Coping with Domestic Pressures and Gaining from a Strengthened Global Economy World Bank ADVERSE EFFECTS ANNUAL BUDGETS ARREARS BANK LIQUIDITY BANKING SYSTEM BILL BROAD MONEY BUDGET ALLOCATIONS BUDGET CLASSIFICATION BUDGET DATA BUDGET DOES CAPITAL EXPENDITURE CAPITAL FLOWS CAPITAL SPENDING CAPITAL STOCK CENTRAL BANK CENTRAL BANKS CIVIL SERVANTS CIVIL SERVICE CIVIL SERVICE REFORM CIVIL SOCIETY ORGANIZATIONS COMPETITIVENESS CONSOLIDATION CONSUMER PRICE INDEX CONTINGENT LIABILITY CONTROL SYSTEMS CREDIT GROWTH CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS DEBT DEBT BURDEN DEBT MANAGEMENT DEBT SERVICE DEBT SUSTAINABILITY DEFICITS DEPOSIT DEPOSIT MONEY BANK DEPOSIT MONEY BANKS DEPOSITS DEPRECIATION DEVELOPING COUNTRIES DOLLAR EXCHANGE RATE DOMESTIC CREDIT DOMESTIC DEMAND DOMESTIC REVENUE ECONOMIC DEVELOPMENTS ECONOMIC ENVIRONMENT ECONOMIC GROWTH ECONOMIC RECOVERY ECONOMIC SLOWDOWN EQUIPMENT EXCHANGE RATE EXCHANGE RATE TARGETING EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPORTER EXTERNAL DEBT EXTERNAL FUNDING EXTERNAL POSITION FIDUCIARY ASSESSMENT FINANCIAL ACCOUNT FINANCIAL CONDITIONS FINANCIAL CRISIS FINANCIAL INTERMEDIATION FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL POSITION FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTORS FINANCIAL SYSTEM FISCAL AFFORDABILITY FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL POLICY FISCAL REPORTING FISCAL SHOCKS FIXED ASSET FOOD PRICES FOREIGN ASSETS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN TRADE GLOBAL ECONOMY GLOBAL TRADE GOLD GOVERNMENT DEPOSITS GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SAVINGS GROWTH RATE GROWTH RATES HIGH-INCOME COUNTRIES HOLDINGS HUMAN RESOURCE IMPORT IMPORT GROWTH IMPORTS INFLATION INFLATION RATES INFLATIONARY PRESSURE INTERNAL CONTROL INTERNAL CONTROL SYSTEMS INTERNATIONAL RESERVES INVESTMENT PROJECTS LABOR MARKET LENDER LENDER OF LAST RESORT LIABILITY MANAGEMENT LOAN LOCAL CURRENCIES LOCAL CURRENCY LONG-TERM INTEREST LONG-TERM INTEREST RATES LOW-INCOME COUNTRIES LOW-INCOME COUNTRY MACROECONOMIC MANAGEMENT MACROECONOMIC POLICY MACROECONOMIC STABILITY MAJOR CURRENCIES MARKET INSTABILITY MICROFINANCE MICROFINANCE INSTITUTIONS MINISTRY OF ECONOMY MINISTRY OF FINANCE MONETARY POLICY MONETARY SECTOR MONEY GROWTH MORTGAGE MORTGAGE-BACKED SECURITIES MULTINATIONAL COMPANIES NATIONAL AUDIT NATIONAL BANK NOMINAL EXCHANGE RATE OIL PRICES OTHER CURRENCIES PEG PERFORMANCE MANAGEMENT PETROLEUM PRICES POLITICAL STABILITY POLITICAL UNCERTAINTY POST-CRISIS PERIOD POVERTY REDUCTION PRIVATE SECTOR PROVINCIAL EXPENDITURES PROVINCIAL LEVEL PRUDENTIAL REGULATIONS PUBLIC EXPENDITURE PUBLIC EXPENDITURE REVIEW PUBLIC FINANCIAL MANAGEMENT PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC SERVICES PUBLIC SPENDING PUBLIC WORKS REAL EFFECTIVE EXCHANGE RATE REAL ESTATE INVESTMENT REAL ESTATE INVESTMENTS REAL EXCHANGE RATE REAL GROWTH REFORM PROGRAM REGIONAL INFLATION REGULATORY FRAMEWORK REMUNERATION RESERVES RESOURCE MANAGEMENT RETURN REVENUE GROWTH REVENUE TARGET SECTORAL ALLOCATION SECTORAL ALLOCATIONS SECTORAL BREAKDOWN SERVICE FACILITIES SHORT-TERM DEBT SHORT-TERM INTEREST RATE STRUCTURAL REFORMS SURPLUSES SUSTAINABILITY ANALYSIS TAX TAX ADMINISTRATION TAX BASE TAX COLLECTION TAX REVENUE TAX REVENUES TOTAL CREDIT TOTAL EXPORT TOTAL IMPORT TOTAL IMPORTS TOTAL INVESTMENTS TRADE BALANCE TRADE DEFICIT TRADE DEFICITS TRADE FACILITATION TRADE SURPLUS TRADING TRADING PARTNERS TRANSPARENCY TREASURY TREASURY SECURITIES WAGE EXPENDITURE WAGE EXPENDITURES WAGE POLICY Cambodia's economy has withstood domestic pressures and managed to sustain its high growth driven by its usual engines of growth. The external sector improved as a result of slower imports due to dampened domestic demand. The post-election adverse effects slowed down the demand for imports, while export growth advanced. Inflation rose to 4.7 percent year-on-year at the end of 2013, up from 2.5 percent at the end of 2012. Inflation is projected to remain in mid-single-digits over the short term. Financial deepening continues but the gap between credit and deposit growth rates has widened, reducing bank liquidity. Government revenue growth has moderated, resulting in an increase in the fiscal deficit. The latest joint World Bank and International Monetary Fund (IMF) debt-sustainability analysis (DSA) conducted in 2013 shows that Cambodia's debt-distress rating remains low, with all debt-burden indicators projected to be below respective thresholds. The prospects for sustaining high growth appear favorable, and real growth for 2014 is projected to reach 7.2 percent, given expectations of renewed confidence and political stability, underpinned by the strengthening of the economic recovery in developed economies. Appropriately managing domestic pressures in order to gain from the improved global economic environment will help maintain macroeconomic stability. Enhancing regional integration will also enable Cambodia to benefit more from the growth dynamics throughout the Association of Southeast Asian Nations (ASEAN) region. While Cambodia does have some fiscal space to increase wages, a cautious and careful approach to pay raise may work best. 2014-04-15T17:51:52Z 2014-04-15T17:51:52Z 2014-04-02 http://documents.worldbank.org/curated/en/2014/04/19352107/coping-domestic-pressures-gaining-strengthened-global-economy-cambodia-economic-update http://hdl.handle.net/10986/17784 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Phnom Penh Economic & Sector Work :: Economic Updates and Modeling East Asia and Pacific Cambodia |